Market Research Brief Template



Market Research Brief Template4604385-74930Template Guides (use for reference while writing, remove for the final brief) A research brief is a document outlining all information a market research agency will need to understand your company, brand, and research needs to propose the most suitable course of action for your upcoming study. A clear, informed brief will ensure the market researcher can deliver the most effective research possible. It also streamlines the project by reducing the need for back and forth between your company and the researcher. A good brief will leave no confusion and provide a meaningful framework for you and the researcher, maximising the accuracy and reliability of insights collected.Using this template guide, you can confidently equip the researcher with the right information to deliver exemplary research for your next project.Follow the guide notes for your reference while writing.Replace examples with your own pany NameCategoryBrand NameBrandCoHygieneActive PlusProject TitleProject DueBrief DatePackage Design and Value Pack Pricing 202320/04/202320/01/2023Contacts & Responsibilities4629150-76200Section Guide (use for reference while writing, remove for the final brief) This section states all stakeholders involved in the project, their role and responsibilities, and their contact details. You should ensure that these are easy to locate on your brief, for quick reference by the agency and easier communication.NameContact DetailsProject RoleResponsibilitiesCatherine Smithname@Project LeadMain contactResearch approvalRobert Brownname@Product ManagerProject approvalAmanda Namesname@Marketing ManagerInvestment approvalBackground Information / Project Information4641850-63500Section Guide (use for reference while writing, remove for the final brief) This section of the brief introduces your company to the market researcher, giving them a more informed overview of your brand, product/service, and target market. You should provide all available context to ensure you and the researcher are on the same page with the project. Relevant information to add in this section includes:Company detailsCompany mission/visionIndustry status and trendsMarket performance historyCompetitive contextAny existing researchBrandCo is a market leader in North America in the feminine hygiene category, aiming to provide women with quality and reliable products since 2016. The brand is working to increase our customer preference and brand loyalty to grow market share which is currently <15%. A new packaging design and value pack SKUs are currently in development and need to be tested against existing SKUs to determine which options maximise profitability and intent to buy.Business Objectives / Marketing Objectives4660900-44450Section Guide (use for reference while writing, remove for the final brief) Your business objectives should answer why you are being asked to conduct the research. The researcher should be able to grasp the existing problems/issues your company is looking to address in the research.SalesCompetitionCustomer satisfaction Product innovationGrow market share by increasing consumer preference and brand loyalty with new value pack SKUs. Maximise profitability by choosing the optimal combination of new packaging and existing SKUs.Increase consumer preference and brand loyalty to maximise revenue projections. Research Objectives4686300-57150Section Guide (use for reference while writing, remove for the final brief) Research objectives address the specific questions you would like the research to cover, including what insights you wish to gain. This is where you should detail what actions your company is planning to take based on the research you are commissioning. Your research objective is one of the most important elements of your brief, as it dictates how your study will be conducted and the quality of results.Which packaging design and SKU combinations maximise profitability and intent to buy?How do consumer preference and brand loyalty affect market share potential?How do new SKUs perform against existing SKUs and competitor products in terms of revenue projections?Target Market4673600-57150Section Guide (use for reference while writing, remove for the final brief) Who will this research focus on? This is where you should state respondents’ demographic and profiling information, along with any pre-existing segments you want to target. Be specific, but also be aware that the more restrictive the criteria are, the higher the sample cost will be. Extensive limitations are also realistically harder to meet.Option 1:Market: CanadaSample size: 200 – 1000Demographics: Household income of $150k and above a yearOption 2:Markets: Malaysia (priority), Thailand, SingaporeSample size: N=200 (Product Variant Selector) + N=500 (Conjoint)Demographics: 16 – 50 years oldNational representation: Age, gender and locationTarget definition: Bought electronics online in the past 12 monthsReads on: 16 – 30-year olds vs. 31 – 50-year oldsOption 3:Market: South AmericaSample size: 1800Target definition: Main and joint grocery buyers5 target groups: Income, urban/rural, age, family status, shopping frequency (divide each into 3 subgroups, e.g. low, medium, high)Action Standards / Decision Rules4705350-57150Section Guide (use for reference while writing, remove for the final brief) Action standards outline which criteria will determine the decisions you make following research. These should detail specific numerical scores and any company benchmarks which need to be met in your research results for decision-making to go ahead. Clear and detailed action standards will allow you to make decisions faster and more confidently following research.60/40 action standard which prioritises preference and nutrition, by aiming “to make products that achieve at least 60% consumer taste preference with the added 'plus' of nutritional advantage”. Pricing is seen as credible by at least 40% of the target market.Product has at least 50% acceptance from the target market. Revised product portfolio should have higher market share than current portfolio.Chosen SKUs should have highest purchase intent and projected revenue.Methodology4705350-50800Section Guide (use for reference while writing, remove for the final brief) You should only include methodology if you are certain of the approach you want to take. If you do not know which methodology you should use, leave this section blank for agency recommendations.Monadic testMonadic testing introduces survey respondents to individual concepts, products in isolation. It is usually used in studies where independent findings for each stimulus are required, unlike in comparison testing, where several stimuli are tested side-by-side. Each product/concept is displayed and evaluated separately, providing more accurate and meaningful results for specific items.Discrete choice modellingSometimes referred to as choice-based conjoint, discrete choice is a more robust technique consistent with random utility theory and has been proven to simulate customers’ actual behaviour in the marketplace. The output on relative importance of attributes and value by level is aligned to the output from conjoint analysis (part-worth analysis).Qualitative researchQualitative forms of research focus on non-numerical and unstructured data, such as participant observation, direct observation, unstructured interviews, and case studies.Quantitative researchNumbers and measurable forms of data make up quantitative research, focusing on ‘how many’, ‘how often’, and ‘how much’, e.g. Conjoint Analysis, MaxDiff, Gabor-Granger, Van Westendorp.Deliverables4679950-50800Section Guide (use for reference while writing, remove for the final brief) Deliverables should clearly outline project expectations – both from your company and the agency. This should cover who is responsible for everything required to undertake research, including survey inputs and outputs, materials, reporting, reviewing, and any additional requirements. Agency to provide:PowerPoint presentationCrosstabs of dataRaw datasetsExcel simulatorOnline dashboard"Typing tool" for future research?BrandCo to provide:SKU and competitor features: sizes, price points, packagingProduct pack shotsMarket information: market share, volume, valueRegulatory requirementsReview of survey before launchTimings and Costs4686300-44450Section Guide (use for reference while writing, remove for the final brief) Timing covers the due dates for key milestones of your research projects, most importantly, for your preliminary and final reports.Cost should include your project budget, along with any potential additional costs/constraints.Preliminary Report Due: 1/06/2023Final Report Due: 14/06/2023Key supermarket buyer meeting: 23/06/2023Project Budget:? $25,000 ................
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